NTPC Green Energy IPO subscribed 93%

The initial public offer (IPO) of NTPC Green Energy received 54,96,35,370 bids for shares as against 59,31,67,575 shares on offer, according to stock exchange data at 17:00 IST on Thursday (21 November 2024). The issue was subscribed 0.93 times.

The issue opened for bidding on 19 November 2024 and it will close on 22 November 2024. The price band of the IPO is fixed between Rs 102 and 108 per share. An investor can bid for a minimum of 138 equity shares and in multiples thereof.

The public issue comprises a fresh issue of equity shares aggregating up to Rs 10,000 crore.

Of the net proceeds from the fresh issue, Rs 7,500 crore is towards investment in NTPC Renewable Energy (NREL), a wholly owned subsidiary of the company, for repayment or prepayment, in full or in part of certain outstanding borrowings availed by NREL, and the balance is for general corporate purposes.

Ahead of the IPO, NTPC Green Energy on Monday, 18 November 2024, raised Rs 3,959.99 crore from anchor investors. The board allotted 36.66 crore shares at Rs 108 each to 107 anchor investors.

NTPC Green Energy (NGEL), promoted by 'Maharatna' central public sector enterprise NTPC, is the largest renewable energy (excluding hydro) public sector enterprise in terms of operating capacity as of September 30, 2024. Operational capacity of the company as of 30 September 2024 was 3320 MW across 6 states.

As of September 30, 2024, it had 17 offtakers across 41 solar projects and 11 wind projects. It defines offtakers as parties with whom it has megawatts operating, contracted, or awarded (signed PPA or from whom it has received a LoA).

The firm reported a consolidated net profit of Rs 176.65 crore and net sales of Rs 1,082.29 crore for the six months ended on 30 September 2024.